If you want to withdraw $35,000 at the end of four years, how much should you deposit now in an account that pays 11% interest compounded quarterly? See the accompanying cash flow diagram. $35.000 2 Years 1 3 P=?

If you want to withdraw $35,000 at the end of four years, how much should you deposit now in an account that pays 11% interest compounded quarterly? See the accompanying cash flow diagram. $35.000 2 Years 1 3 P=?

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 25P

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Question

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If you want to withdraw $35,000 at the end of four years, how much should you deposit now in an account that pays 11% interest
compounded quarterly? See the accompanying cash flow diagram.
$35,000
1
2
3
Years
P=?

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